The Corbin District, a mixed-use development located in downtown Darien, CT., has successfully secured $165 million in construction financing for its Phase II expansion. This impressive funding includes a $102 million construction loan from Barings and an additional $63 million provided by Counterpointe SRE through C-PACE financing – the largest transaction of its kind in Connecticut. According to JLL’s release, their Capital Markets team led by Michael Gigliotti, Evan Pariser, and Robert Tonnessen arranged the financing package while Ed Tonnessen and Betsy Buckley handled office leasing. The upcoming Phase II will introduce 78,810 square feet of retail space along with 105,968 square feet of office space and 112 apartments to the development. Completion is anticipated for summer 2026.
Tonnessen commented on the success of securing this substantial funding stating that “David [the developer] and his partners had a remarkable vision which they spent years assembling properties for before starting construction during Covid.” He also acknowledged that this achievement was accomplished despite facing challenges within capital markets environment.
JLL’s involvement with The Corbin District dates back to arranging $35 million for Phase I which reached full occupancy prior to delivery.
